Norway Market Data 5,608 + eRepublik Economic Report
Day 5,608, 06:59
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Published in Norway 
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by
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by Impaler1459
Introduction
Purpose: Analyze the economic state of Norway and propose improvements.
I hope you all are doing well! Looking forward to meeting more players. First I wanted to cover the motivation for looking into an economy of a game like this. I enjoy economies, simulated or real, and want to get better at market analysis. Pretty much every game I play have real or simulated economies. The eRepublik economy has qualities that are not in other games. My profession IRL is statistics heavy so it fits nicely. For now I'm only going to cover a surface level overview since not much seems to be going on. I played this game back in 2009 and liked the economy. I'm from USA but I've been to Sweden (fantastic trip), and Norway is nearby so I picked it to focus on. A larger economy would be more active but a smaller economy has more interesting problems. Feel free to educate me if I say something newbish.
eRepublik has a virtual economy, which is real and has human players. This is a major challenge. Human players typically act in their own best interest which can (and has) destroyed economies though hyperinflation.
Market Data
Food
https://photos.app.goo.gl/cJHQgXS34TmFfmv86
The most interesting graph.
Weapons
https://photos.app.goo.gl/zmEC5GmdV7FHVD7X8
Aircraft Weapons
https://photos.app.goo.gl/2uo6sBnkyG7XP8aS7
Houses
https://photos.app.goo.gl/rFy7C7xcXgF1S3oo7
Commodity Synopsis
Food fluctuated a bit so it's showing healthy signs of consumption. Food is likely the best market to export globally to bring money into Norway.
The rest of it is pretty stable which means consumption is low.
Housing and aircraft weapons are severely under priced for the current price of employees which means a lot of people are being severely underpaid. Prices will stabilize naturally if employees getting paid less than 4k take higher paying jobs. after employers run out of high paying jobs, they should fire people they cant afford and lower the pay OR it will create a competitive market with a healthy inflation rate.
additionally, there is no point to buying houses past q1 due to only supplying 1 overtime point per house. The cost of production at current wage rates are too high.
Economic Report
Economic Stimulation
There are obvious solutions like buying locally and hiring locally, but consuming is also important. Consumption is the end of the lifecycle of materials and prevents. If you are not using weapons in wars and have the means to use a lot, please consider buying and using as much weapons and food as you can while still making a profit for yourself.
If it interests the people here, Norway could use more active players to help drive consumption. You can entice them with government packages that they wouldn't normally be able to afford like free houses, packs, and storage.
And export lots of food.
Decreasing Global Inflation
Money must be created and destroyed in order for a healthy economy to function. Money is like blood in the sense that it is born, it flows around moving resources and then it dies. Centralization of currency is expected in any economy with humans, but it becomes the responsibility of the people with the largest bank accounts to keep the blood flowing by encouraging production and destruction of currency.
Money is created with new gold and destroyed by buying packs with game tokens and buying storage. Countries should destroy money periodically by donating money to players to buy storage and game packs. This will require international collaboration and help from tycoons to prevent hyperdeflation in one country.
There are about 190 battles today, each will give 20 gold through highest damage in divisions. That's 3,800 gold or 3,800,000 NOK being created just today. This game is going through a period of runaway hyperinflation that has probably reach asymptotic behavior, so its not urgent but recovery will be slow.
Stabilizing Production Costs
Many accounts are able to produce for much cheaper than market production cost due to cheap labor. Minimum wage that changes with inflation may be a good idea. If you are paying people less than the current market rate of 4.2k, please pay your employees more (at least 2.5k), fire those you cant afford, and readjust prices.
Moving Forward
If this was helpful I'll keep going, if you guys like your piece of pie where it is with no interest in expanding Norway that's fine too I can still compare market data, but having a healthy economy will increase player retention rates.
Feel free to message me here or in the discord about whatever, looking forward to making some money.
Purpose: Analyze the economic state of Norway and propose improvements.
I hope you all are doing well! Looking forward to meeting more players. First I wanted to cover the motivation for looking into an economy of a game like this. I enjoy economies, simulated or real, and want to get better at market analysis. Pretty much every game I play have real or simulated economies. The eRepublik economy has qualities that are not in other games. My profession IRL is statistics heavy so it fits nicely. For now I'm only going to cover a surface level overview since not much seems to be going on. I played this game back in 2009 and liked the economy. I'm from USA but I've been to Sweden (fantastic trip), and Norway is nearby so I picked it to focus on. A larger economy would be more active but a smaller economy has more interesting problems. Feel free to educate me if I say something newbish.
eRepublik has a virtual economy, which is real and has human players. This is a major challenge. Human players typically act in their own best interest which can (and has) destroyed economies though hyperinflation.
Market Data
Food
https://photos.app.goo.gl/cJHQgXS34TmFfmv86
The most interesting graph.
Weapons
https://photos.app.goo.gl/zmEC5GmdV7FHVD7X8
Aircraft Weapons
https://photos.app.goo.gl/2uo6sBnkyG7XP8aS7
Houses
https://photos.app.goo.gl/rFy7C7xcXgF1S3oo7
Commodity Synopsis
Food fluctuated a bit so it's showing healthy signs of consumption. Food is likely the best market to export globally to bring money into Norway.
The rest of it is pretty stable which means consumption is low.
Housing and aircraft weapons are severely under priced for the current price of employees which means a lot of people are being severely underpaid. Prices will stabilize naturally if employees getting paid less than 4k take higher paying jobs. after employers run out of high paying jobs, they should fire people they cant afford and lower the pay OR it will create a competitive market with a healthy inflation rate.
additionally, there is no point to buying houses past q1 due to only supplying 1 overtime point per house. The cost of production at current wage rates are too high.
Economic Report
Economic Stimulation
There are obvious solutions like buying locally and hiring locally, but consuming is also important. Consumption is the end of the lifecycle of materials and prevents. If you are not using weapons in wars and have the means to use a lot, please consider buying and using as much weapons and food as you can while still making a profit for yourself.
If it interests the people here, Norway could use more active players to help drive consumption. You can entice them with government packages that they wouldn't normally be able to afford like free houses, packs, and storage.
And export lots of food.
Decreasing Global Inflation
Money must be created and destroyed in order for a healthy economy to function. Money is like blood in the sense that it is born, it flows around moving resources and then it dies. Centralization of currency is expected in any economy with humans, but it becomes the responsibility of the people with the largest bank accounts to keep the blood flowing by encouraging production and destruction of currency.
Money is created with new gold and destroyed by buying packs with game tokens and buying storage. Countries should destroy money periodically by donating money to players to buy storage and game packs. This will require international collaboration and help from tycoons to prevent hyperdeflation in one country.
There are about 190 battles today, each will give 20 gold through highest damage in divisions. That's 3,800 gold or 3,800,000 NOK being created just today. This game is going through a period of runaway hyperinflation that has probably reach asymptotic behavior, so its not urgent but recovery will be slow.
Stabilizing Production Costs
Many accounts are able to produce for much cheaper than market production cost due to cheap labor. Minimum wage that changes with inflation may be a good idea. If you are paying people less than the current market rate of 4.2k, please pay your employees more (at least 2.5k), fire those you cant afford, and readjust prices.
Moving Forward
If this was helpful I'll keep going, if you guys like your piece of pie where it is with no interest in expanding Norway that's fine too I can still compare market data, but having a healthy economy will increase player retention rates.
Feel free to message me here or in the discord about whatever, looking forward to making some money.
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Comments
You're right about the hyper-inflation, it doesn't seem that many years ago the average wage was 35cc.
In general the eEconomy seems to have suffered from over simplification resulting in too much personal production - something that i doubt it would be possible to reverse now.
thanks, ill keep that in mind moving forward.
comment... o7
o7